forex news / Spanish Downgrade Affects Euro in Forex Trading

EUR/USD pulls back in currency tradingEarlier today, the euro appeared to be making some headway in forex trading. That has stopped however, and EUR/USD has changed course in currency trading, on the news that Spanish government debt has been downgraded.

The euro is suffering as its individual members begin to have problems, contributing to the instability of the overall performance of the euro in forex trading.

ActionForex reports on the euro zone currency:

Today’s news also puts into focus the question of whether the euro, as a currency without a country, can withstand the stress of the current economic slowdown The EUR/USD pair declined in the immediate aftermath of the news and remains near day’s lows as traders become increasingly concerned about the credit worthiness of the individual members of the union.